Analysts Set CNO Financial Group, Inc. (NYSE:CNO) Target Price at $48.75

Shares of CNO Financial Group, Inc. (NYSE:CNO) have received a consensus recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $50.75.

A number of brokerages have recently weighed in on CNO. Keefe, Bruyette & Woods boosted their price objective on shares of CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, May 5th. Wall Street Zen lowered CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Jefferies Financial Group cut CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $53.00 to $55.00 in a research report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Finally, Evercore set a $48.00 price objective on CNO Financial Group and gave the company an “in-line” rating in a report on Monday, June 1st.

Insider Buying and Selling

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 86,048 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the completion of the transaction, the chief executive officer directly owned 174,264 shares of the company’s stock, valued at approximately $8,971,110.72. This trade represents a 33.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of CNO Financial Group stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the sale, the chief marketing officer owned 79,191 shares of the company’s stock, valued at approximately $3,959,550. The trade was a 6.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 95,106 shares of company stock valued at $4,879,343 over the last three months. 3.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CNO Financial Group

Several hedge funds have recently added to or reduced their stakes in the business. Richardson Financial Services Inc. purchased a new position in shares of CNO Financial Group during the 4th quarter valued at about $37,000. Versant Capital Management Inc raised its position in CNO Financial Group by 72.0% during the second quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 474 shares in the last quarter. Bessemer Group Inc. raised its position in CNO Financial Group by 75.4% during the first quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 487 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in CNO Financial Group by 123.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 649 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings in CNO Financial Group by 39.2% in the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 336 shares during the period. 95.43% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Stock Performance

CNO Financial Group stock traded down $1.07 during mid-day trading on Friday, reaching $51.86. 1,044,017 shares of the company traded hands, compared to its average volume of 836,131. The firm’s fifty day moving average is $48.96 and its two-hundred day moving average is $44.55. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 20.83 and a beta of 0.81. CNO Financial Group has a fifty-two week low of $35.24 and a fifty-two week high of $53.55. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17.

CNO Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were issued a $0.18 dividend. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, June 10th. This represents a $0.72 annualized dividend and a yield of 1.4%. CNO Financial Group’s dividend payout ratio is currently 28.92%.

CNO Financial Group Company Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.